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Message
re: Why is crypto crashing?
Posted on 6/19/22 at 6:20 am to SuperSaint
Posted on 6/19/22 at 6:20 am to SuperSaint
quote:
crypto isn’t a currency You mean a volatile asset?
Not a currency! Wow
An asset ?
How so?
1
Posted on 6/19/22 at 8:23 am to SlidellCajun
They're kinda both.
Posted on 6/19/22 at 8:28 am to Hulkklogan
quote:
They're kinda both.
We’ll they’re called currency so that’s what I call them
If they’re traded for the sake of trading then look out below
Posted on 6/19/22 at 8:47 am to SlidellCajun
quote:you are either the most dense poster on this board or the dumbest. Both would be an incredible feat
We’ll they’re called currency so that’s what I call them
From page 12 of your own thread:
quote:
Jesus fricking christ man you are so fixated on Bitcoin being called a crypto currency. Who gave it that name? I don't believe the word currency was ever used to describe it in the bitcoin white paper. Have you read that? Obviously not. Blame the media for calling this basket of coins/tokens crypto "currency". These things are not currency. They are digital property, they are settlement layers, they are decentralized application platforms, they are payments systems, they are interest bearing accounts. They are not currencies. Blame the media for naming them that
ETA: LINK Here is a link to the white paper. Do yourself a favor and read it for your own education.
Posted on 6/19/22 at 10:22 am to Hulkklogan
quote:
I thought I was go in when ETH hit $1k but.. Nope.
Not usually one for timing the market, but with VCs and major centralized cryoto banks going insolvent or having massive layoffs, stocks still tanking, and what looks like a recession coming.. There's just no way we've hit bottom yet.
Maybe ETH at $500
This is classic “I can’t wait to buy bitcoin under 18k” and then when it’s comes… naw, it’ll go lower. Only to see it jump up in a few hours.
Not calling you out, but I feel like everyone does this. Self included. Psychology of buying assets is so backwards. And for the record I’m not calling a bottom nor advocating catching a falling knife. DCA is still the best. Make a plan and stick to it. So simple yet so hard.
Posted on 6/19/22 at 10:27 am to TigerDeBaiter
Yeah, I'm still doing my weekly DCA regardless.
And it jumped but stocks are closed on weekends. If stocks keep tanking then I expect crypto to keep bleeding.
But yeah, I really should just set the money I'm gonna drop aside in stables and just DCA that in as well
And it jumped but stocks are closed on weekends. If stocks keep tanking then I expect crypto to keep bleeding.
But yeah, I really should just set the money I'm gonna drop aside in stables and just DCA that in as well
This post was edited on 6/19/22 at 10:28 am
Posted on 6/19/22 at 7:43 pm to TigerTatorTots
quote:
you are either the most dense poster on this board or the dumbest. Both would be an incredible feat
Nah. I’m not stupid. I’m not genius either. Pretty sure you aren’t either.
I understand a few things really well and I stick to those things. Investing is one of them. I’ve done very well in that regard albeit experience was a tough teacher. There were times where I had to learn the hard way. Dotcom was one and trusting “friends” was another. I understand value though. I can tell when the market has something valued incorrectly.
I have looked into bitcoin and other aspects of the environment. I think blockchain technology has legs. I got some of that theought some etf’s. It’s just a fringe investment though. The currency angle is a challenge though. it just seems like the flavor of the day with people chasing something because others are doing it.
I can tell from your posts that you’re no genius either. You are about average intelligence. You certainly don’t understand the crypto environment well enough to be as bold as you are. You’ve got high hopes for crypto currency and bitcoin in particular but I warn you to be careful. Keep an open mind here. Be critical in your evaluation. Or not.
People like you who are all in make me realize that this isn’t a reasonable investment. Consider that Anyone who has made money in crypto has had to convert it to another currency like the USD or other more stable currency. That ought to be a flag.
But tell us- at these levels, is bitcoin undervalued?
Posted on 6/19/22 at 7:46 pm to SlidellCajun
quote:
Anyone who has made money in Stocks has had to convert it to Any currency like the USD or other more stable currency. That ought to be a flag.
FIFY
Note, you can interchange Crypto, Stocks with basically anything one "could" buy as an investment to A) buy with fiat to hopefully B) later sell for MORE fiat than used to buy.
Weeks later and you are still going on and on about the same old tired bullshite.
This post was edited on 6/19/22 at 7:50 pm
Posted on 6/19/22 at 7:55 pm to SlidellCajun
Posted on 6/19/22 at 8:47 pm to JayDeerTay84
Crypto is not an investment security, it fails the Howey Test.
In 1946 the Supreme Court "created the Howey Test", bitcoin only passed the 1st part, failing the other 3 aspects.
In 1946 the Supreme Court "created the Howey Test", bitcoin only passed the 1st part, failing the other 3 aspects.
quote:
As a result, the Supreme Court created the 4-point Howey Test to define securities.
These are the 4 points of the Howey Test:
A party invests money
In a common enterprise
With the expectation of profiting
Based on the efforts of a third party
Posted on 6/19/22 at 9:03 pm to TigerintheNO
Bitcoin is property. Ask the IRS.
Posted on 6/19/22 at 9:10 pm to TigerintheNO
You're lumping every crypto coin or token in with BTC when this whole thread people have been arguing that many of these coins have radically different purpose than Bitcoin.
Posted on 6/19/22 at 9:17 pm to JayDeerTay84
quote:
FIFY Note, you can interchange Crypto, Stocks with basically anything one "could" buy as an investment to A) buy with fiat to hopefully B) later sell for MORE fiat than used to buy. Weeks later and you are still going on and on about the same old tired bullshite.
Wow
You still can’t differentiate between equities and crypto currency!?
I really think the crypto boyz are about as clueless as they suspect others to be
This post was edited on 6/19/22 at 9:20 pm
Posted on 6/19/22 at 9:31 pm to SlidellCajun
I very clearly said investments.
But you make a good point while trying to insult. Crypto operates in multiple spaces at once. Probably why you have such a hard time with it.
You use A for A and B for B and C for C. Crypto can be ABCDE all in one.
But you make a good point while trying to insult. Crypto operates in multiple spaces at once. Probably why you have such a hard time with it.
You use A for A and B for B and C for C. Crypto can be ABCDE all in one.
Posted on 6/19/22 at 9:33 pm to SlidellCajun
quote:Literally none of your response has anything to do with the post you are responding to regarding your infatuation of evaluating bitcoin as a currency.
Nah. I’m not stupid. I’m not genius either. Pretty sure you aren’t either.
I understand a few things really well and I stick to those things. Investing is one of them. I’ve done very well in that regard albeit experience was a tough teacher. There were times where I had to learn the hard way. Dotcom was one and trusting “friends” was another. I understand value though. I can tell when the market has something valued incorrectly.
I have looked into bitcoin and other aspects of the environment. I think blockchain technology has legs. I got some of that theought some etf’s. It’s just a fringe investment though. The currency angle is a challenge though. it just seems like the flavor of the day with people chasing something because others are doing it.
I can tell from your posts that you’re no genius either. You are about average intelligence. You certainly don’t understand the crypto environment well enough to be as bold as you are. You’ve got high hopes for crypto currency and bitcoin in particular but I warn you to be careful. Keep an open mind here. Be critical in your evaluation. Or not.
People like you who are all in make me realize that this isn’t a reasonable investment. Consider that Anyone who has made money in crypto has had to convert it to another currency like the USD or other more stable currency. That ought to be a flag.
But tell us- at these levels, is bitcoin undervalued?
Posted on 6/20/22 at 6:09 am to SlidellCajun
quote:Hard to say.
I really think the crypto boyz are about as clueless as they suspect others to be
I’ve always treated investments as “can I touch it”.
If I’m buying stock in a company, I can do as much or as little research as I want, but the physical presence of the company must exist. It needs to provide a tangible good or service. Otherwise you’re just hoping someone else values the intangible more than you do.
The desire to replace the dollar I get, but those seeking to replace it don’t seem to understand very well what money is.
Posted on 6/20/22 at 6:37 am to SlidellCajun
quote:Why are you doing this?
You still can’t differentiate between equities and crypto currency!?
There is no transactional difference between crypto and gold. I've not seen the term "equities" floated" with BTC, but if it was, the translated intent was obviously investable asset.
But what difference does it make to you what someone considers it? You're not in the cryptomarket. You haven't been in the cryptomarket. You won't be in the cryptomarket for the distant foreseeable future. Why go there?
You keep renewing this thread. But you're bringing nothing to it except argument, and dismissal. Why? Are you trying to troll folks who made a crypto investment call, which, in the short-term, didn't work out?
Posted on 6/20/22 at 6:47 am to SlidellCajun
quote:I don't generally do DVs, but you earned one here. What a dumb post.
Anyone who has made money in crypto has had to convert it to another currency like the USD or other more stable currency. That ought to be a flag.
Posted on 6/21/22 at 4:27 pm to NC_Tigah
quote:I can’t believe you conflated the two.
There is no transactional difference between crypto and gold
Any gold based transaction is far more secure. Anyone that when offered the choice between gold and crypto says “doesn’t matter, they’re the same value” is an idiot.
Posted on 6/21/22 at 5:28 pm to llfshoals
quote:JFWIW, "transactional" is the functional word there.quote:I can’t believe you conflated the two.
There is no transactional difference between crypto and gold
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